NEW YORK, Nov. 18, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Santarus, Inc. ("Santarus" or the "Company") (Nasdaq:SNTS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Salix Pharmaceuticals, Ltd. ("Salix") (Nasdaq:SLXP). A complaint was filed in Delaware state court.
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Salix and Santarus announced on November 7, 2013 that the companies have entered into a definitive merger agreement under which Salix will acquire all of the outstanding common stock of Santarus for approximately $2.6 billion. Under the terms of the transaction, Santarus shareholders will receive $32.00 for each share of Santarus stock they own. The claims concern whether the Santarus Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Salix Pharmaceuticals, Inc. is underpaying for Santarus shares.
If you own Santarus common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/santarus-snts/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Stamford, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP